The entertainment industry is unlike any other, reacting in real time to cultural and technological trends, while rewarding big risk and innovation. Companies in the sector don’t last long, and well-established giants are always on the chopping block as newcomers make waves.
Here are the factors that go into a top-tier entertainment company, and a few of the best names in the industry you need to know about.
What Makes a Great Entertainment Company?
Entertainment is a broad term in 2020, with so many possible avenues for distribution and monetization. While companies in the industry used to simply book shows and appearances for the artists they represent, it’s become a lot more complicated with the digital takeover.
Nowadays, entertainment companies need to be on alert 24/7 and seek opportunities for artists across all available channels, whether it’s social media promotions, brand collaborations, or appearances with key influencers in the industry.
Best and Brightest Companies in the Industry
Whether you’re an outside observer looking to break into the scene or a longtime industry insider, you should know about the top companies in the entertainment management space.
Red Light Management
Founded in Virginia in 1991 by Coran Capshaw, Red Light Management was the team responsible for launching Dave Matthews Band into the stratosphere.
Now, the company is considered the world’s largest independent music management brand, representing dozens of high-level artists across a wide range of genres, from folk and rock to hip hop, pop, and electronic.
Milk & Honey
A&R and marketing are at the center of Milk & Honey’s 21st-century management strategy, which operates a lean team of under 15 people. Founded by Lucas Keller, the company has amassed an impressive roster of artists and seen huge success in a short time.
No company in the entertainment management space exports more American music to the International market, which speaks to the forward-thinking philosophy of Milk & Honey.
Under the leadership of British media visionary Mark Gillespie, this company manages groundbreaking artists in the hip-hop, electronic, and R&B genres. Clients have included Calvin Harris, Frank Ocean, and hip hop megastar Travis Scott.
The roster also includes famous actors such as Will Smith & Jason Statham, screenwriters, and creators who have been known to bend genres and branch out into other areas such as scriptwriting, film production, and directing.
This is certainly a company to keep a close eye on as it expands into new territory moving forward.
Staying in the Game
A great management team will be a PR guru, branding mastermind group, and on-the-ground promoter, all rolled into one.
Only a select few companies in the entertainment industry have been able to stand the test of time, learning from mistakes of the past and future-proofing their strategies to remain relevant in the fast-moving digital age.